An Amarillo developer will seek the blessing of the city’s downtown design review panel to transform a building at 202 S.W. 10th Ave. into a combination of lofts and retail.

Mays Investments is scheduled to present its The Lofts on 10th project to the Downtown Amarillo Urban Design Review Board during a meeting at 5:30 p.m. today, in Room 306 at Amarillo City Hall, 509 S.E. Seventh Ave.

The board must certify the project specifications meet the city’s urban design standards for downtown properties before the city can consider issuing a building permit for construction.

The standards apply to new construction and exterior renovation of existing downtown properties. They include stipulations for exterior facades, signs, lighting and streetscape amenities.

Mays Investments plans to remodel the property on the north side of Southwest 10th, west of Young Sushi Rocks, to contain seven loft apartments and ground-floor retail space, according to Austin Sharp, an associate with the investment company.

“The building that they’re using has got some history behind it,” city Planning Director Kelley Shaw said. “It’s got that downtown urban appeal.”

Five one-bedroom and two two-bedroom units would occupy the building, with all but one on the second floor, Sharp said. Units would range from 500 to 1,000 square feet.

“We’re trying to bring an upscale feel to downtown,” Sharp said. “They’re going to be kind of upscale, market-rent apartments.”

The city has issued a demolition permit so interior demolition work can begin, Sharp said. A building permit is required to move beyond demolition.

The project will comply with the city’s pedestrian-friendly streetscape requirements, including the addition of lighting and other sidewalk amenities, he said.

Sharp estimated the cost of the project to be at least $500,000, “but those numbers are still being tweaked,” he said.

“It’s a sizeable investment, but we think the timing is right. We’re excited about this. We just want to see downtown thrive.”

Architect Chuck Lynch has applied for the certficate on behalf of Mays Investments. Lynch also is a board member, so he must abstain any votes regarding the application, Shaw said.

Encouraging development of market-rate housing downtown is one goal of the city’s downtown redevelopment strategy because residents in the district on a 24-hour basis will provide a customer base that can draw retailers and other businesses to the area, said Melissa Dailey, executive director of Downtown Amarillo Inc.

Downtown Amarillo Inc. is a nonprofit formed to support revitalization of the city’s core.

Market-rate units are “incredibly important,” she said. “I get calls every single week from people wanting (to rent) them, and we just don’t have them.”

Mays Investments “has had its roots here since the mid- to late 1940s,” Sharp said.

The company owns and manages Wolflin Square, a shopping center at Interstate 40 and Georgia Street; The Shops on Wolflin on Wolflin Avenue, west of Georgia Street; and the Mayco Center on Western Street south of Southwest 34th Avenue. It also owns three multifamily properties totalling about 250 units, Sharp said.

The Potter-Randall Appraisal District lists the value of the 202 S.W. 10th property at $107,934.